Johnson Service Group PLC
19 December 2006
19 December 2006
Johnson Service Group PLC
Disposal of part of Johnson Hospitality Services Business ('JHS')
Johnson Service Group PLC, the textile related services and facilities
management Group, announces the disposal of part of the business and assets of
Johnson Hospitality Services to the Spaceworks Furniture Hire Ltd Group of
Companies for a total cash consideration of £0.8 million. As indicated in
September, trading at JHS continued to be difficult despite undergoing
rationalisation and restructuring. The remaining part of JHS is expected to be
disposed of, or closed, by the 31st December 2006, with no additional impact on
the numbers stated below.
The total loss is estimated at some £10.2 million, of which £8.4 million are
non-cash items. The trading loss for JHS for the year is approximately £2.3
million, which will be classed as discontinued.
For further information, please contact:
Johnson Service Group PLC Hudson Sandler
Simon Sherrard, Chairman Michael Sandler
Jim Wilkinson, Chief Financial Officer Sandrine Gallien
Telephone: 020 7290 0390 Telephone: 020 7796 4133
www.johnsonplc.com
This information is provided by RNS
The company news service from the London Stock Exchange
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